Bitcoin Bull Market Still Intact Despite Current Dip, Says Analyst

A crypto expert has shared his perspective on Bitcoin (BTC), Solana (SOL), and other major digital assets, pointing out that the recent market trends suggest a “bear trap” rather than a long-term downturn.

This type of market behavior happens when prices decline temporarily, tricking investors into thinking that a bearish phase is starting, only for the market to quickly recover.

The analyst, known as InvestAnswers, reassured crypto investors that despite the recent drops, he’s still optimistic about the long-term bullish trend for the crypto market.

He emphasized that he believes Bitcoin, currently sitting at around $81,600, is experiencing a typical market correction and remains in a positive trend. His analysis highlights the formation of a “double bottom” pattern on Bitcoin’s price chart, which typically signals a price reversal in the upward direction.

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On Solana, the analyst expressed strong confidence in its undervaluation. He argued that if Solana were priced similarly to Bitcoin, based on factors like user engagement and transaction volume, its market cap could be a staggering $24 trillion, far exceeding Bitcoin’s current $2 trillion valuation.

While he acknowledges Bitcoin’s role as a store of value, he believes Solana’s potential will become clearer in time, though its ascent is still uncertain.

Alexander Stefanov